FAQs

How do I set up an account for internet access and/or trading?

After opening an account with BrokerageSelect, your account executive can set you up for internet access.

How do I send/transfer money or securities to my brokerage account?

There are several funding options. For cash, clients can send in a personal check, bank check, wire transfer, ACH transfer. For securities, clients can ACAT an entire account from another brokerage firm or they can transfer individual securities through the DTC system. ACAT forms are sent from BrokerageSelect. DTC’s are initiated by the transferring firm.

Please send checks directly to our clearing firm, Pershing LLC. Remember to include your account number on the check. Pershing’s address is:

Pershing LLC
One Pershing Plaza, 5th Floor
Jersey City, NJ 07399

If you are wire transferring funds from another broker, please provide that firm with the following information:

ABA Routing number:
Account Number:
Account name: Pershing LLC
For further credit: “Your account name and number”

For DTC’s, Pershing’s DTC # is 0443. Please give this number along with your account number to the transferring firm to move securities to BrokerageSelect.

For complete account transfers from another brokerage firm, please ask your BrokerageSelect account executive for the appropriate form.

Does BrokerageSelect offer check writing and/or on-line bill paying?

ProCash Plus® is BrokerageSelect’s total cash management solution. A daily sweep moves client cash automatically into your choice of money market funds so your cash is always working for you. To manage your cash balances, ProCash Plus® provides clients with a checkbook, MasterCard® debit cards for use at any ATM machine or merchant point-of-sale machine, and on-line bill paying capabilities. Please contact your account executive to set you up for ProCash Plus®.

What is a margin account and how does it work?

A margin account involves BrokerageSelect extending credit to clients based on marginable securities in accounts as collateral. Margin interest is charged based on the amounts borrowed. MARGIN ACCOUNTS CARRY MORE RISK THAN ORDINARY CASH ACCOUNTS. MARGIN BALANCES ARE BORROWED FUNDS THAT MUST BE REPAID. WITH MARGIN IT IS POSSIBLE TO LOOSE MORE THAN YOUR INITIAL INVESTMENT. Please read our Margin Disclosure.

How do I contact BrokerageSelect in case of a natural disaster or man-made crisis?

BrokerageSelect has formulated a detailed emergency and business continuity plan. The firm has a complete off-site facility 90 miles north of our New York City home office. Our clearing firm, Pershing LLC, has alternative sites and back-up systems. Please read our Business Continuity Plan for more information.